The Bank of Israel published its Composite State of the Economy Index showing a 0.10% decline in April, pointing to a modest weakening in activity compared with the previous month. The fall was mainly driven by a sharp drop in goods exports, alongside declines in credit card purchases and the job vacancy rate. Partly offsetting these effects, April data showed increases in imports of consumption goods and imports of production inputs, while industrial production in March also contributed positively. The Bank also revised the index readings for January to March downward as additional data were received, including weaker revenue indices for March and lower services exports for February, with March revised to 0.05% from 0.25% and February revised to -0.10% from 0.32%.
Bank of Israel 2025-05-27
Bank of Israel reports Composite State of the Economy Index fell 0.10% in April and revises January to March lower
The Bank of Israel's Composite State of the Economy Index fell by 0.10% in April, primarily due to a sharp drop in goods exports, credit card purchases, and job vacancies, partially offset by increased imports and industrial production. The Bank also revised January to March index readings downward, reflecting weaker revenue indices and lower services exports.